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US to unveil anti-fraud task force Tuesday - source
(Agencies)
Updated: 2009-11-17 11:52

WASHINGTON: The US government plans to announce on Tuesday an inter-agency task force to ferret out fraud, a source briefed on the announcement said.

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The task force will be comprised of the departments of Justice, Treasury and Housing and Urban Development as well as the Securities and Exchange Commission, said the source who spoke on condition of anonymity.

The source did not say what had triggered the Obama administration's decision to create the task force.

However, the United States is under pressure to crack down on all types of fraud, including mortgage and credit card fraud amid the worst economic crisis in decades. Regulators are also reeling after failing to uncover Bernard Madoff's $65 billion Ponzi scheme.

Already in existence is an inter-agency squad to combat corporate fraud which includes the heads of markets and banking regulators.